This partnership comes after Intercos pulled back an IPO offer in October of this year. Intercos said at that time, "The company considers that sharply deteriorating market conditions in recent days will not allow for an accurate reflection of the company's intrinsic value and potential," according to buinessweek.com.
Who’s in charge
Executive leadership will continue as is, under the auspices of company founder and CEO Dario Ferrari. “Intercos prides itself on setting the standard for innovation in the beauty industry and we are excited to partner with Catterton for this next phase of growth," Ferrari said in a press release announcing the partnership.
Wealth at work
Equity and investment corporations tend to link up with brands that not only have products and services of value but also have a strong reputation among clients and peers. "Catterton identified Intercos as the leading supplier to the cosmetics and beauty category with an operating profile that is the gold standard in the industry," said Nik Thukral, a senior partner at Catterton.
"We are thrilled to partner with Dario who has built this remarkable business over the past 42 years. Intercos today brings a highly differentiated set of capabilities to the industry, reflective of its broad product portfolio, global footprint, deep management talent and emphasis on research and product innovation,” elaborated Thukral.
International presence
Intercos already manufactures beauty product lines for brands internationally. Ferrari launched the company in 1972, and it has since grown to comprise 12 production facilities, 7 research centers and 11 marketing offices. Intercos’ 2,800+ employees work at sites in North and South America, France, Italy, Switzerland and China.
Summing up the company’s spot in the industry, “it maintains a leading position in the international color cosmetics industry as well as an important position in the market for high-end skincare products in Europe and United States,” the press release states.
And growing
The partnership between Intercos and Catterton equity will further the beauty supplier’s global reach. “Catterton brings proven expertise, decades of experience in the personal care industry and new resources that will enable us to accelerate our international development strategies, including further expansion in the United States and China,” said Ferrari.
Catterton concurs: “We are excited and look forward to partnering with Intercos and building on its global leadership, particularly in the US, China and Latin America," Thukral said in the press release.